Montréal - The Autorité des marchés financiers (the AMF) has filed three charges against Pasquale Schiavone for acting illegally as a securities dealer, aiding with making a distribution without a prospectus and stating that the securities of Richvale Resource Corporation would be listed on the stock exchange. The AMF is seeking fines totalling $27,000.

Pasquale Schiavone convinced two investors to buy shares of Richvale Resource Corporation by promising that Richvale would eventually be listed on the Frankfurt Stock Exchange. Investors lost a total of $25,000.

The AMF also filed two charges against Pierre Couture for stating that the securities of Exploration Aurock inc. and Richvale Resource Corporation would be listed on the stock exchange. The AMF is seeking fines totalling $8,000.

Pierre Couture convinced one investor to buy shares of Exploration Aurock inc. and Richvale Resource Corporation by promising him that Aurock and Richvale would eventually be listed on the Frankfurt Stock Exchange. The investor lost a total of $25,000.

The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.